What users are saying about

Accounting by Wave

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Top Rated
102 Ratings
58 Ratings

Accounting by Wave

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Top Rated
102 Ratings
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Score 9.1 out of 101
58 Ratings
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Score 7.2 out of 101

Add comparison

Likelihood to Recommend

Accounting by Wave

Wave is well suited for small businesses looking to have an accounting service that won't hinder profitability. Wave is a great service for a small business owner just starting out and is flexible enough to meet demands of larger businesses. Wave even offers a paid payroll service if needed for any business owner. The ease of use with Wave makes it perfect for non-accountants, and for accountants they have tools available that they are used to seeing with other accounting software.
Lukas Sundahl, MBA profile photo

Sage 100

Best suited for an asset light medium sized business. Not appropriate for a small business, or a business with many fixed assets, particularly if those companies already have appropriate supply chain management software in place. Best for a company that is trying to reduce the number of people within finance and accounting department.
Jeff Looby, CPA profile photo

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
Sage 100
6.5
Pay calculation
Accounting by Wave
8.3
Sage 100
8.0
Benefit plan administration
Accounting by Wave
7.5
Sage 100
6.0
Direct deposit files
Accounting by Wave
8.0
Sage 100
6.0
Salary revision and increment management
Accounting by Wave
7.7
Sage 100
6.3
Reimbursement management
Accounting by Wave
8.0
Sage 100
6.1

Customization

Accounting by Wave
9.0
Sage 100
7.4
API for custom integration
Accounting by Wave
8.9
Sage 100
7.0
Plug-ins
Accounting by Wave
9.1
Sage 100
7.9

Security

Accounting by Wave
8.6
Sage 100
9.3
Single sign-on capability
Accounting by Wave
9.1
Sage 100
9.6
Role-based user permissions
Accounting by Wave
8.1
Sage 100
9.0

Reporting & Analytics

Accounting by Wave
8.4
Sage 100
7.0
Dashboards
Accounting by Wave
8.4
Sage 100
8.7
Standard reports
Accounting by Wave
8.3
Sage 100
7.1
Custom reports
Accounting by Wave
8.6
Sage 100
5.3

General Ledger and Configurable Accounting

Accounting by Wave
8.2
Sage 100
6.8
Accounts payable
Accounting by Wave
8.6
Sage 100
6.5
Accounts receivable
Accounting by Wave
9.2
Sage 100
6.5
Cash management
Accounting by Wave
8.0
Sage 100
Bank reconciliation
Accounting by Wave
7.8
Sage 100
Expense management
Accounting by Wave
8.5
Sage 100
Time tracking
Accounting by Wave
7.3
Sage 100
Fixed asset management
Accounting by Wave
6.3
Sage 100
Multi-currency support
Accounting by Wave
8.5
Sage 100
Multi-division support
Accounting by Wave
7.5
Sage 100
Regulations compliance
Accounting by Wave
7.3
Sage 100
Electronic tax filing
Accounting by Wave
6.0
Sage 100
Self-service portal
Accounting by Wave
9.0
Sage 100
Global Financial Support
Accounting by Wave
9.0
Sage 100
5.0
Primary and Secondary Ledgers
Accounting by Wave
9.3
Sage 100
6.9
Intercompany Accounting
Accounting by Wave
8.7
Sage 100
5.8
Localizations
Accounting by Wave
9.5
Sage 100
7.4
Journals and Reconciliations
Accounting by Wave
8.1
Sage 100
5.7
Enterprise Accounting
Accounting by Wave
8.7
Sage 100
6.9
Configurable Accounting
Accounting by Wave
8.5
Sage 100
5.0
Centralized Rules Framework
Accounting by Wave
9.0
Sage 100
Standardized Processes
Accounting by Wave
8.0
Sage 100
8.8

Inventory Management

Accounting by Wave
8.9
Sage 100
8.9
Inventory tracking
Accounting by Wave
9.5
Sage 100
9.0
Automatic reordering
Accounting by Wave
8.0
Sage 100
8.8
Location management
Accounting by Wave
9.0
Sage 100
9.0
Manufacturing module
Accounting by Wave
9.0
Sage 100
8.8

Order Management

Accounting by Wave
7.9
Sage 100
9.0
Pricing
Accounting by Wave
8.3
Sage 100
8.9
Order entry
Accounting by Wave
8.3
Sage 100
8.9
Credit card processing
Accounting by Wave
9.1
Sage 100
8.9
Cost of goods sold
Accounting by Wave
8.8
Sage 100
8.9
Order Orchestration
Accounting by Wave
8.0
Sage 100
9.0
End-to-end order visibility
Accounting by Wave
4.8
Sage 100
9.0
Order exception Resolution
Accounting by Wave
8.0
Sage 100
9.0

Accounting Firm BPO Features

Accounting by Wave
8.0
Sage 100
Branded client dashboards
Accounting by Wave
8.0
Sage 100
Client data roll-up capabilities
Accounting by Wave
8.0
Sage 100
Client data consolidation for benchmarking
Accounting by Wave
7.5
Sage 100
Configurable alerts
Accounting by Wave
8.0
Sage 100
Billing bypass
Accounting by Wave
8.0
Sage 100
Client template cloning
Accounting by Wave
8.0
Sage 100
Single sign-on
Accounting by Wave
9.0
Sage 100
Configurable client onboarding questions
Accounting by Wave
8.0
Sage 100
Cross-client workflow management
Accounting by Wave
8.0
Sage 100
Industry-specific versioning
Accounting by Wave
8.0
Sage 100
Legacy system data migration
Accounting by Wave
8.0
Sage 100

Subledger and Financial Process

Accounting by Wave
Sage 100
6.6
Automated Invoice Processing
Accounting by Wave
Sage 100
6.2
Shared Services Payments
Accounting by Wave
Sage 100
10.0
Billings Management
Accounting by Wave
Sage 100
7.5
Customer Receipt Applications
Accounting by Wave
Sage 100
8.0
Customer Collections
Accounting by Wave
Sage 100
6.3
Revenue Recognition
Accounting by Wave
Sage 100
7.2
Cash Management
Accounting by Wave
Sage 100
5.8
Asset Management
Accounting by Wave
Sage 100
5.1
Travel & Expense Management
Accounting by Wave
Sage 100
3.5
Budgetary Control & Encumbrance Accounting
Accounting by Wave
Sage 100
4.9
Period Close
Accounting by Wave
Sage 100
7.0
Subledger Reconciliations
Accounting by Wave
Sage 100
8.0

Project Financial Management

Accounting by Wave
Sage 100
6.3
Budgeting and Forecasting
Accounting by Wave
Sage 100
4.9
Project Costing
Accounting by Wave
Sage 100
8.0
Cost Capture
Accounting by Wave
Sage 100
8.0
Capital Project Management
Accounting by Wave
Sage 100
8.0
Customer Invoicing
Accounting by Wave
Sage 100
4.2
Customer Contract Compliance
Accounting by Wave
Sage 100
6.0
Project Revenue Recognition
Accounting by Wave
Sage 100
6.0
Project Financial Performance Analysis
Accounting by Wave
Sage 100
6.0
Project Financials Dashboard
Accounting by Wave
Sage 100
6.0
Real-time Financial Reporting
Accounting by Wave
Sage 100
6.0
Embedded Business Intelligence
Accounting by Wave
Sage 100
6.0
Project Planning Collaboration
Accounting by Wave
Sage 100
6.0

Logistics

Accounting by Wave
Sage 100
9.7
Fulfillment Management
Accounting by Wave
Sage 100
9.0
Inventory Visibility
Accounting by Wave
Sage 100
10.0
Warehouse Workforce Management
Accounting by Wave
Sage 100
10.0

Manufacturing

Accounting by Wave
Sage 100
9.0
Supply Chain Business Flows
Accounting by Wave
Sage 100
10.0
Production Management
Accounting by Wave
Sage 100
8.0

Supply Chain

Accounting by Wave
Sage 100
9.0
Forecasting
Accounting by Wave
Sage 100
9.0
Inventory Planning
Accounting by Wave
Sage 100
9.0
Multi-tier Supply Chain Planning
Accounting by Wave
Sage 100
9.0
Performance Monitoring
Accounting by Wave
Sage 100
9.0

Pros

  • It has a very easy to learn interface.
  • They have a great support team that is quick to answer any questions you might have along the way.
  • The core of the service is completely free, so it's a great way to track your finances on a limited budget.
  • It has an optional payroll service built-in, which most other competitors don't offer.
Eric Matthews profile photo
  • Simplifying financial dashboards and reporting
  • Automating financial accounting and reporting processes
  • Supply chain reporting and management
Jeff Looby, CPA profile photo

Cons

  • Sales Tax Automation. I don't even know how this would be possible but as an Ontario resident I would love to explore a way I could create parameters based on certain expenses and automatically add the HST.
  • AI for categorizations. Wave does an alright job of taking a guess at the expense categories in the data from our payment accounts. A little more would be a fine addition.
  • Speed. Sometimes I find it can be a little sluggish. Not all the time, but some.
John Galbraith profile photo
  • A key missing function is to be able to track serial numbers and lots independent of item valuation method. The system will not track serial numbers for standard cost valuation items.
  • This is a killer for manufacturing operations, which often use standard cost accounting.
  • The non-work order production process, Bill of Material Production Entry, has no way to schedule a planned production order.
  • If you could create a production order like a sales order, then light manufacturing operations would not need to implement the work order module (one of the most complex modules) in order to show planned production supply in MRP.
  • Inventory Warehouse Transfers are currently instantaneous. There is no way to schedule a planned transfer with ship and arrive dates. No transfer in process documentation.
  • This makes it difficult for MRP if you need to transfer material from one warehouse to another and need to factor in transport time.
  • Reconciling Purchase Price Variance in the GL with sub system transactions is very difficult. Critical for Standard Cost Accounting PPV analysis.
  • If the sub system transactions showed the transaction line standard cost and PPV value, then it would be much simpler to reconcile with the GL transaction data.
  • While the work order module works, it is not very user friendly. Just getting a work order to the point that you can work on it is a multi step process requiring running posting reports.
  • The work order partial completion costing logic is inadequate, requiring 100% of the WIP dollars be issued to the work order before doing a partial completion.
Clark Walliser profile photo

Likelihood to Renew

Accounting by Wave7.8
Based on 3 answers
Easy to use for clients with no accounting background and the price is right.
Jeanne Harris profile photo
Sage 1007.6
Based on 5 answers
Sage is constantly developing new and enhanced features and if renewal is expired you don't get them. Also support becomes lacking when when you fall many versions behind. Plus there may be a late pay penalty. Unless you're migrating soon to a new software you should always keep your maintenance current or it costs you more in the long run.
Paul Maldonato profile photo

Usability

Accounting by Wave5.3
Based on 4 answers
I am a professional bookkeeper and I have no problems using Wave and all of it's features. I can see that certain individuals who have no accounting knowledge might struggle with a few different features and entries, but that is why Wave has an emphasis in connecting users to Wave Pro's who will walk them through things
Melissa Whaley profile photo
Sage 1008.2
Based on 4 answers
The screens are easy to understand and their is a help button on everyone of them
Joseph Mancuso profile photo

Reliability and Availability

Accounting by Wave6.7
Based on 4 answers
WAVE is always available when we need it ! Peter
Peter Cullen profile photo
No score
No answers yet
No answers on this topic

Performance

Accounting by Wave2.9
Based on 2 answers
Wave does tend to slow down when filtering your transactions screen especially by date. This is more of an issue when trying to trouble shoot certain transactions or clean-up a set of books.
Melissa Whaley profile photo
Sage 1009.1
Based on 1 answer
No answer on this topic is available.

Support

Accounting by Wave9.0
Based on 1 answer
If they had live chat service then I'd rate this a 10.
Matthew Gehrman profile photo
Sage 1007.7
Based on 2 answers
Sage Support is very good. I usually get a person on the phone in a short time frame and usually get my issues fixed in one called.
Joseph Mancuso profile photo

Online Training

Accounting by Wave4.7
Based on 3 answers
easy to use and east to train on ! Our WAVE clients enjoy the ease of use
Peter Cullen profile photo
No score
No answers yet
No answers on this topic

Implementation

No score
No answers yet
No answers on this topic
Sage 1006.0
Based on 1 answer
We had an advantage in implementing the tool in that our director of Ops had been part of the team implementing the ERP for other users so we knew what to expect and were able to avoid a lot of the challenges people sometimes face with implementations. However, the process still took far longer than desired.
No photo available

Alternatives Considered

Pfff, Wave blows them all out of the water. Don't even hesitate, sign up.I don't tend to review much but I am so in awe of Wave that I've even set up a Linkedin account just prior to this, purely to be able to review it. Why? Well it was a job that had to be done anyway but any company as good as this, who has put the creative, intelligent effort into making a software so exceptional and then letting me use that - for free - should have the word spread. Yes, if I can use this for free, I can take the time to recommend them.Wave was the most recent one after trialing all the others and as mentioned, none were a good fit for me; a small business. It was a moment of glorious revelation to find Wave after varying levels of frustration with the others. I'm not in any way saying that the others didn't have good features as well but Wave has it all. And where it definitely shines in what I've used so far is in the style and professionalism of the invoices. It gives the best possible impression.
Mia Awang profile photo
Have not recently evaluated other systems. This was in use when I arrived. We have found no reason to change. It provides the information we need.
No photo available

Rating for Public Practice CPAs

Accounting by Wave8.0
Based on 8 answers
It's easy and quick to setup. It's user friendly and doesn't use too much jargon so my clients understand it and use it properly. It allows me to switch between different clients quickly so I can respond to any queries by looking at the same data.
Paul Colman FCA profile photo
No score
No answers yet
Our organization is not a CPA firm. We provide outsourced accounting services and work with clients' selected accounting systems. We do not handle configuration of their software.
Lynn Albala profile photo

Scalability

Accounting by Wave3.0
Based on 2 answers
Once they out grow what is ability to move up to a more robust system?
Penny Breslin profile photo
No score
No answers yet
No answers on this topic

Return on Investment

  • I'm getting paid faster than my previous billing methods.
  • Accounting features keep me organized all in 1 place
  • If / when I need payroll, I will use Wave
No photo available
  • We were able to convert an acquisition to Sage 100 in 4 months, from acquisition date, mostly because Sage 100 is so easy to use. We had a full EDI system converted in that same time frame. Import and review of data was easy to do.
  • Set up is very simple, not a lot of hidden switches that make other setups complicated.
  • Export of data into other reporting systems is very easy, which makes analysis a breeze.
Brett Witzel profile photo

Pricing Details

Accounting by Wave

General
Free Trial
Free/Freemium Version
Premium Consulting/Integration Services
Entry-level set up fee?
No
Accounting by Wave Editions & Modules
Accounting by Wave
Additional Pricing Details

Sage 100

General
Free Trial
Free/Freemium Version
Premium Consulting/Integration Services
Entry-level set up fee?
No
Sage 100 Editions & Modules
Sage 100
On-premise Edition
Sage 100 ERP Standard
1
Sage 100 ERP Advanced
1
Sage 100 ERP Premium
1
1. Per Seat per Month
SaaS Edition
Sage 100 ERP Online
1
1. Per User per Month
Additional Pricing Details